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The next big tax threat is coming from
your state capital

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Posted By: Harlowe, 8/12/2025 11:50:51 AM

If you are one of the millions of people celebrating the trimming of federal fat, you’ll want to know that a new taxpayer threat of stunning proportions is rising, fast. [Snip] A $1.3 trillion pension crisis is barreling toward American taxpayers,.. [Snip] According to a new report by the nonpartisan Equable Institute, the State Teachers Retirement System of Ohio (STRS) is between $20 and $30 billion in debt and will be unable to fully pay back the teachers who funded it... [Snip] How could this happen? How could a $90+ billion fund be so poorly managed as to be at a loss? ...bureaucratic hubris and a sense of entitlement.

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Author Blackwell points out, this crisis is not coming from Washington, but from a state (Ohio now, other states likely to follow). It appears STRS did manage to find funds for “luxurious perks” that included $1,500 monthly plant-watering contracts, a baby grand piano in a cafeteria and concierge services. It seems teachers’ unions, for decades, helped break the system by having their representatives on the STRS board block, resist and vilify changes not meeting their objectives . Not to worry! Look to taxpayers as a source of revenue.

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Reply 1 - Posted by: privateer 8/12/2025 12:20:54 PM (No. 1989759)
STRS's investments will not pay off for the teachers who paid in...and are counting on that money for retirement. But I bet that, in some underhanded, hidden way, those who approved those investments have been scoring very well for decades. Hence, the ill-fated investments. If you're about to climb into your diesel launch, to take you to your luxury yacht, you don't worry about those left behind on the sinking liner. How about the names of some of those scoundrels?
9 people like this.

Reply 2 - Posted by: wilarrbie 8/12/2025 12:35:37 PM (No. 1989764)
Lol, wait till Illinois requests we hold their beer.
11 people like this.

Reply 3 - Posted by: MickTurn 8/12/2025 3:17:28 PM (No. 1989804)
100% it was STOLEN BY DEMOCRAPS, any Questions?
1 person likes this.

Reply 4 - Posted by: Illinois Mom 8/12/2025 4:55:28 PM (No. 1989830)
Illinois raised electric rates and the gas tax again. There is a bill that has already passed the state senate, and due before house when the are back in session and expected to pass. Governor Flintstone, wants a $1.50 per package tax on ALL deliveries. Every one including Door Dash types. At this time they have groceries and pharmacies ..but there IS a different food sale tax proposal in the works. Illinois has Chicago and the Cook County suburbs. The rest of the state is, essentially, RURAL. The taxes on packages is fund the CTA is designed to combat the budget shortfall . Illinois most citizens will not ever use trains or busses in their lifetimes.
1 person likes this.

Reply 5 - Posted by: tootall 8/12/2025 5:09:31 PM (No. 1989834)
I wonder how many seats to the Masters or the Super Bowl it takes on the lil Orange bunny's private jet to get the exclusive accumulated distribution from every State employee that retires. Askin for a friend
0 people like this.

Reply 6 - Posted by: jeffinitely 8/12/2025 7:21:05 PM (No. 1989869)
Just makes me curious that the lack of poor performance in the pension fund investments just may be due to the pension managers investing in their favorite Democrat-aligned businesses. Green energy comes to mind. It would be another form of the dems skimming off the taxpayers in order to support their favorite causes.
1 person likes this.

Reply 7 - Posted by: 5 handicap 8/13/2025 5:58:07 AM (No. 1989937)
That is NOT the States Problem, it belongs entirely to the Teachers Union and those who represent it! (and of course the Teachers who elected those criminals). Eff em all!
1 person likes this.

Reply 8 - Posted by: mifla 8/13/2025 7:08:21 AM (No. 1989956)
Let the crisis happen. Refer the teachers to the pension fund managers. Leave the rest of us out of it.
0 people like this.

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If you are one of the millions of people celebrating the trimming of federal fat, you’ll want to know that a new taxpayer threat of stunning proportions is rising, fast. [Snip] A $1.3 trillion pension crisis is barreling toward American taxpayers,.. [Snip] According to a new report by the nonpartisan Equable Institute, the State Teachers Retirement System of Ohio (STRS) is between $20 and $30 billion in debt and will be unable to fully pay back the teachers who funded it... [Snip] How could this happen? How could a $90+ billion fund be so poorly managed as to be at a loss? ...bureaucratic hubris and a sense of entitlement.
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